In this half an hour video, Prof. Antony Davies gives a lecture about the dichotomy between how we imagine government works and how it actually works.

Public Choice Theory: Why Government Often Fails (source)

You can read the transcript of the lecture here. The topics covered in this lecture are:

  • How we imagine government works (img. 1)
  • How the government actually works (img. 2)
  • Voter:
    • voter behavior in a democracy
    • voter behavior in a republic
    • how to assign representatives & gerrymandering (img. 3)
    • voter behavior: conclusion (img. 4)
  • Politician:
    • politicians adapt to the „mean voter”
    • politician behavior: conclusion (img. 5)
  • Bureaucrat:
    • no incentives, no competition, monopoly, bad service
    • bureaucrat behavior: conclusion (img. 6)
  • Moral: be careful of what you wish for (img 7)

Other videos on this topic:

Behavioral Economics Ep. 5 (video):
What You Need to Know About Public Choice: Erika Davies and Prof. Antony Davies give an introduction to public choice economics and describe how insights on human behavior in the private sector can be applied to predict human behavior in the public sector.

Public Choice: Why Politicians Don’t Cut Spending (video):
Prof. Ben Powell uses insights from public choice theory to explain why politicians, despite what they may promise to voters, rarely cut government spending.

Vezi si:
Frederic Bastiat – The Law (free PDF and audiobook)
Preturile: cum se formeaza si controlul lor

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